2026 SnT Rankings (APAC)

Based on the most helpful WSO content and previous discussions, here’s a breakdown of S&T (Sales and Trading) rankings and insights for APAC, focusing on the products you mentioned:

APAC S&T Rankings by Product

1. FX (Foreign Exchange):

   • Top players: Citi, JPMorgan (JPM), and Goldman Sachs (GS) are often highlighted for their strong FX desks in APAC.
   • Citi is particularly known for its dominance in FX trading globally, including APAC.

2. Rates:

   • Leaders: JPM, GS, and UBS.
   • JPMorgan and Goldman Sachs are recognized for their robust rates trading platforms, while UBS has a strong presence in structured rates products.

3. Commodities:

   • Best performers: Goldman Sachs, JPM, and BofA.
   • GS is a standout in commodities trading, with a long-standing reputation for expertise in this area.

4. Equities:

   • Top banks: Morgan Stanley, Goldman Sachs, and Citi.
   • Morgan Stanley and GS are often considered leaders in equities trading, with Citi also having a strong presence in APAC.

5. Credit:

   • Key players: BofA, JPM, and UBS.
   • BofA is particularly strong in credit trading, with JPM and UBS also being highly competitive in this space.

Insights on S&T Internships at Specific Banks

1. UBS:

   • Known for its strong presence in structured products and wealth management integration. Internships here often provide exposure to niche markets and structured trading.

2. BofA (Bank of America):

   • The rotational program is a significant advantage, allowing interns to gain experience across multiple desks. This is ideal for those who want to explore different products before specializing.

3. Citi:

   • Citi’s S&T internships are highly regarded for FX and equities exposure. The bank’s global network and APAC dominance in FX make it a great choice for those interested in these areas.

4. JPMorgan (JPM):

   • JPM is known for its strong training programs and a well-rounded experience across products. Interns often highlight the collaborative culture and access to senior traders.

5. Goldman Sachs (GS):

   • GS is a top choice for commodities and equities trading. While the internship structure may vary, the bank is known for its rigorous training and high expectations.

Additional Notes:

• Rotational Programs: As you mentioned, BofA offers a rotational structure, which is excellent for gaining broad exposure. GS may not have a rotational setup, but its focus on specific desks allows for deep dives into particular products.
• Networking: Regardless of the bank, networking with senior traders and analysts during your internship is crucial for securing return offers.
• Preparation: Consider leveraging resources like WSO’s Financial Modeling Package or S&T-specific guides to prepare for technical and behavioral aspects of the internship.

If you’re looking for more detailed insights, you might find it helpful to explore WSO threads on S&T internships and rankings. Good luck!

Sources: Credit Suisse 2020/21 Off-Cycle Internship in HK/SG, Scotiabank S&T Comp and Overall Thoughts, Credit Suisse 2021 Group Rankings (NYC), 2017 APAC IBD Summer Analyst Interview Update, 2017 APAC IBD Summer Analyst Interview Update